Value Line Pte, an affiliate of KKR Asian Fund, has offloaded 65 lakh shares of SBI Life Insurance for about Rs 504 crore through open market transactions.

According to data available with the NSE, Value Line sold 65,00,000 shares for an estimated Rs 503.78 crore with the average price being Rs 775.06 per scrip. The buyer, however, could not be ascertained immediately.

SBI Life Insurance Company is a joint venture between the State Bank of India and the French financial services heavyweight BNP Paribas Cardiff.